Source : The Straits Times, Aug 24, 2009
A RESIDENTIAL site in Serangoon Avenue 3, with a committed bid of $83.7 million from a developer, will be put up for public tender.
The Urban Redevelopment Authority (URA) said the land parcel was made available for sale through the Reserve List System on Aug 27 last year.
Under the system, the Government will put up a reserve list site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of 5 per cent of the bid price, to bid for the site at or above the minimum price which is acceptable to the Government.
With a site area of about 1.39 ha, the 99-year leasehold land earmarked for residential development can generate a maximum permissible gross floor area of 38,857sqm.
URA would not release the the name of the developer who has committed to the minimum bid.
URA will launch the public tender for the site in about two weeks. The tender period will be about four weeks.
More details of the land parcel are available on the URA website at http://www.ura.gov.sg/sales/SerangoonAve3(27Aug08)SerangoonAve3-intro(T).html.
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